HighTower Advisors LLC Grows Position in AppFolio, Inc. (NASDAQ:APPF)

HighTower Advisors LLC lifted its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 60.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,485 shares of the software maker’s stock after acquiring an additional 559 shares during the quarter. HighTower Advisors LLC’s holdings in AppFolio were worth $366,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lord Abbett & CO. LLC lifted its position in shares of AppFolio by 82.2% during the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock worth $108,116,000 after purchasing an additional 207,204 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of AppFolio in the 4th quarter valued at approximately $30,195,000. Deepwater Asset Management LLC purchased a new position in shares of AppFolio during the 4th quarter valued at approximately $15,483,000. FMR LLC grew its position in shares of AppFolio by 998.0% during the third quarter. FMR LLC now owns 60,894 shares of the software maker’s stock worth $14,334,000 after buying an additional 55,348 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of AppFolio by 31.2% in the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock worth $51,800,000 after buying an additional 54,386 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on APPF. Stephens reissued an “overweight” rating and set a $295.00 price objective on shares of AppFolio in a report on Friday, January 31st. Piper Sandler restated a “neutral” rating and set a $265.00 price objective on shares of AppFolio in a research note on Friday, January 31st. KeyCorp lowered AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price for the company. in a research report on Friday, January 10th. Finally, William Blair reissued an “outperform” rating on shares of AppFolio in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $276.29.

Insiders Place Their Bets

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total transaction of $760,662.27. Following the completion of the transaction, the chief executive officer now directly owns 83,824 shares of the company’s stock, valued at approximately $18,212,440.48. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Matthew S. Mazza sold 838 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total value of $213,941.40. Following the completion of the sale, the insider now directly owns 22,701 shares in the company, valued at $5,795,565.30. This represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. 5.24% of the stock is currently owned by insiders.

AppFolio Price Performance

Shares of NASDAQ APPF opened at $219.90 on Tuesday. The firm has a market capitalization of $8.01 billion, a PE ratio of 39.62 and a beta of 0.89. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56. The business’s fifty day moving average price is $224.74 and its two-hundred day moving average price is $232.51.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. Equities research analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

About AppFolio

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.